FIAT ELECTRIC CAR STRATEGY

Fiat is a Fiat Chrysler Automobiles (FCA) brand and follows the broader strategy of the Group. FCA brands include Maserati, Jeep, Fiat, RAM, and Dodge. FCA’s CEO Sergio Marchionne has publicly stated that he does not believe electric vehicles is a threat to the old way of business, and the company strategy does not include going down that road. FCA is pursuing partnerships rather than going it alone, in part due to financial challenges experienced by the Group which do not allow for huge investments in R&D programs.

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FIAT ELECTRIC CARS IN THE NEWS

2017 Week 33 - FCA joins yet another self-driving alliance

As the race for electric vehicles hots up so it does for autonomous vehicles as car makers try and regain the edge it lost in the EV sector to tech start-ups. Fiat Chrysler Automobiles (FCA), dead-last in the EV race, this week joined the BMW Intel self-driving car alliance as the company gears-up to produce self-driving cars by 2021. The BMW led alliance also includes Intel’s recently acquiredIsraeli tech company, Mobileye, Delphi Automotive, and Continental. Together the alliance will have 140 self-driving test vehicles on the roads by the end of 2017. Interestingly enough FCA is also a partner with Google’s Waymo where it developed and deployed autonomous Chrysler Pacifica minivans.

2017 Week 30 - Sergio Marchionne unveils new EV strategy

In related news, FIATChrysler and (former) EV naysayer, Sergio Marchionne, this week announced during an Investor event that all cars of its luxury marque Maserati would be electrified post-2019. Mr. Marchionne went further stating that half of Fiat Chrysler’s lineup, including Alfa Romeo, will be electric from 2022. The strategy will be formulated over the next year as the company enters its 3rd five-year plan in 2019.

2017 Week 13 - Sergio Marchionne is warming to electric vehicles

With the run-up to theFormula E to be held inMexico City today, Ferrari came out in support of the event. FIA’s Auto magazine quoted the CEO of FIATChrysler, one of the auto industries biggest naysayers of EV’s, Sergio Marchionne as follows in an interview:

“The first is that we need to be involved inFormula E because electrification via hybridization is going to be part of our future.”
“We have already developed a hybrid supercar, La Ferrari,” he said, “and on future Ferrari models we will leverage new technologies as well as electrification.”

And this from a man that came out vehemently against the technology, saying it will never catch on. No mention was made of plans for the electrification of Alpha Romeo.

The respected Economist Magazine this week commented on forecast adjustments by various investment houses for the penetration of electric vehicles. Up till last year, the consensus was that only 4% of new vehicles would be electric by 2025. BNP Paribas now forecast 11% penetration by 2025, while Morgan Stanley see’s a 7% penetration. In 2016 international EV sales increased with nearly 750,000 units (42%) in spite of a low fuel price environment. One factor driving the change of heart are aggressive regulations to support environmental targets. In Norway electric vehicles now makes up 37% of new vehicle fleet amid government support while in China the Government aims to have EV’s make up 8% of new vehicles by 2018. Technology has also moved much faster than anticipated and battery cost, a long time stumbling block is coming down faster than anticipated, with some mega factories coming online within the next two years. Our hearts go out to the automakers that failed to notice the trend, RIP Fiat, Toyota, Honda, Hyundai, and the list goes on, not to mention Big Oil.

A report just released by the Californian Air Resouces Board indicated that advancement in electric vehicle technology is happening at a much faster pace than anticipated five years back. The report highlights the efforts by Tesla and Chevrolet to bring affordable and long-range vehicles to the market. The report found expanding charging networks, advancements in battery performance, decreasing cell costs, and the number of models available to the consumer as factors for the improved results. On the other hand, the Board states that not all automakers attack the challenges with the same vigor, with Honda and FiatChrysler named as company’s that just do the bare minimum to comply with regulations. We predict this will reflect in the various companies share prices five years from now when the next report takes the pulse of the sector.

Another one bites the dust as the Environmental Protection Agency this week put FiatChrysler on notice for cheating on its emission tests. Diesel Gate might be the best own inflicted wound by big auto fighting electric vehicles, forcing big brands such as Volkswagen and Mitsubishi to change strategy from pushing back to embracing the technology. Now Fiat’s CEO, Sergio Marchionne, who has been a fervent EV hater might be forced out or to change his stance. In our books, it couldn’t have happened to a nicer person?

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